Whats your primary chart time frame for day trading?

[Sharky]

A survery to find out what time frames traders are watching most closely for timing their trades.

 

[options]

Sharks. Unfair.

I'm a multi time frame fan. No choice up there for that.

So any or all that are relevant to my needs at the time.

(Knew I should have been a politician.) (Thing is I can't stand the arseholes!)

 

[Sharky]

Do you use one timeframe as your primary entry chart - using a longer timeframe for confirmation?

 

[options]

Ok serious stuff now then.

Charts I use are 1/5/15/60/daily. I find the tick chart to be too whippy.

"primary entry chart"

All of them!

I could use any one of them alone for entry but prefer to use all together to enter, run and exit. To fine tune the entry I use a minute chart. But it is what is shown in those charts along with indicators if any, and how you 'read' what is in front of you that matters.

 

[Thirteen]

agree with options

trading needs flexibility not rigidity

 

[timsk]

Of the 11 or so who don't use a chart at all - maybe they're all Nasdaq traders who use level 2 exclusively. Possible I suppose, but unlikely. This begs the question - what do they use - gut feeling, the stars, the ratio of red trafic lights vs green ones on the way to work? Answers on a post card please.
Tim.

 

[FetteredChinos]

Timsk, i use granny's tea leaves.

actually a bit of a leading indicator.



actually no, i base my main trading around 2 numbers. high and low of the previous day. that is all.


having said that, i spent most of last night developing some pattern prediction stuff in excel. i really should get out more.




FC

 

[Thirteen]

tim - the answer to your question could well be the numbers alone - the spread in particular. thats what they use in the pits, the screen is no diff.

13

 

[TheBramble]

13 - What do you mean 'the spread in particular'?

How do you use this to gauge potential price action?

 

[Thirteen]

bid - offer.

scalping - neutral strategy. dont care on direction as long as ur kwik

 

[timsk]

FC,
I always have the previous day's chart on view to note areas of S&P. Of particular interest are that days high/low. Having said that, I wouldn't enter a trade based purely on this set up, although I may well exit one. I'm interested in your strategy - is it based on historical data whereby you know that if the instrument you're trading breaches the previous day's high there's better than say (for arguements sake) 70% probability that it will advance another x% of the average daily trading range? Vice versa for shorts. And, if I may be so bold, can I enquire if your strategy is profitable?
Cheers,
Tim.

 

[FetteredChinos]

timsk. kind of...its more based on cycles...


the FTSE seems to have what seems to be a 3-day cycle in it, ie when there are no outside shocks (eg pesky bombs going off)

i use the high/low to gauge the current day in relation to where we should be..

for the sake of not going into the full method, if we havent had a new high for 2 days, then its time to go long, and vice versa for a short. then the market generally (approx 75% of the time) pulls itself back to roughly where it was before (depending on the trend it could be shifted a fair few points in each direction) there are other entry criteria, based on prev days range and what have you but these are staying private for a while at least.

im trading a version of this in my journal. sadly im currently long in this sell-off, which is a pain i can tell you..thought i was going to be going short tonight too, but then the late sell-off put pay to that.

in backtesting, over a 15 trade period it never had a losing period, which is what keeps me going in tricky times such as this.

FC

 

[timsk]

Cheers FC. Rivalland may be of interest to you if you've not already read him. Good luck with your long.
Tim.

 

[Newtron Bomb]

I use multiple time frams and multiple strats

FX Trading
Muliple time frames 15 (for entry) 60 240 daily & monthly
Also a no chart strat so i'm not tied to machine

NASDAQ Trading
multiple time frames 1, 5 (for entry) & daily

Futures
Multiple time frames15 (for entry) 60 240 daily & monthly
Also a no chart strat so i'm not tied to machine

Commodities
Occasional punt on gold but dont use charts to trade it

Happy Trading
NB

 

[DaxDestroyer]

I prefer Volume and Tick charts

 

[arabianights]

Don't use charts to make any trading decisions. I do use them to get an idea of what has been going on recently and what has happened in the past though.

 

[DaxDestroyer]

I earn money with it If you allow

 

[nobrainer]

Never used charts...greed and fear on level 2..best to just play that. Have increased sizes over the years so reduced timeframes means any TA pointless.Day Trading is best kept simple.Just take of money management, never run losers and be ready for next opportunity at all times. Most profitable way to trade, believe me!!

 

[DaxDestroyer]

Never used charts...greed and fear on level 2..best to just play that. Have increased sizes over the years so reduced timeframes means any TA pointless.Day Trading is best kept simple.Just take of money management, never run losers and be ready for next opportunity at all times. Most profitable way to trade, believe me!!

If you say so

I stick to my charts or does that mean, I'm not greedy enough?

 

[ComOption]

Generally I refer to week/day chart for trend, 30 min for direction and 5 min for entry. Spend the most time with 30min chart.